Ionis Pharmaceuticals Inc (IONS) Expected to Post Quarterly Sales of $115.44 Million

Equities research analysts expect Ionis Pharmaceuticals Inc (NASDAQ:IONS) to report $115.44 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Ionis Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $95.25 million and the highest estimate coming in at $137.00 million. Ionis Pharmaceuticals posted sales of $160.35 million during the same quarter last year, which suggests a negative year over year growth rate of 28%. The business is expected to report its next earnings report on Tuesday, February 27th.

On average, analysts expect that Ionis Pharmaceuticals will report full-year sales of $115.44 million for the current fiscal year, with estimates ranging from $394.57 million to $486.00 million. For the next year, analysts forecast that the firm will report sales of $515.15 million per share, with estimates ranging from $370.33 million to $818.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Ionis Pharmaceuticals.

Several equities analysts have recently commented on the stock. BidaskClub downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Zacks Investment Research downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. BMO Capital Markets upped their price objective on shares of Ionis Pharmaceuticals from $64.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Morgan Stanley upped their price objective on shares of Ionis Pharmaceuticals from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a research note on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Ionis Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $50.76.

In other Ionis Pharmaceuticals news, SVP C Frank Bennett sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $52.50, for a total transaction of $656,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Klein III sold 3,000 shares of the firm’s stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $50.56, for a total transaction of $151,680.00. Following the transaction, the director now directly owns 12,939 shares of the company’s stock, valued at approximately $654,195.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,885 shares of company stock valued at $7,002,841. 2.13% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in IONS. Prudential Financial Inc. increased its stake in shares of Ionis Pharmaceuticals by 4.9% during the second quarter. Prudential Financial Inc. now owns 8,641 shares of the company’s stock valued at $440,000 after purchasing an additional 400 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Ionis Pharmaceuticals by 267.3% during the second quarter. Ameriprise Financial Inc. now owns 18,752 shares of the company’s stock valued at $953,000 after purchasing an additional 13,647 shares in the last quarter. Northern Trust Corp increased its stake in shares of Ionis Pharmaceuticals by 7.8% during the second quarter. Northern Trust Corp now owns 621,816 shares of the company’s stock valued at $31,631,000 after purchasing an additional 44,750 shares in the last quarter. Ark Investment Management LLC increased its stake in shares of Ionis Pharmaceuticals by 38.7% during the second quarter. Ark Investment Management LLC now owns 176,991 shares of the company’s stock valued at $9,004,000 after purchasing an additional 49,428 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Ionis Pharmaceuticals by 0.4% during the second quarter. Parametric Portfolio Associates LLC now owns 100,250 shares of the company’s stock valued at $5,100,000 after purchasing an additional 387 shares in the last quarter. 91.44% of the stock is owned by institutional investors and hedge funds.

Ionis Pharmaceuticals (NASDAQ IONS) opened at $50.26 on Thursday. The company has a market cap of $6,270.00, a PE ratio of 359.00 and a beta of 2.53. The company has a debt-to-equity ratio of 1.50, a quick ratio of 6.21 and a current ratio of 6.25. Ionis Pharmaceuticals has a one year low of $37.26 and a one year high of $65.51.

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Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.

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Earnings History and Estimates for Ionis Pharmaceuticals (NASDAQ:IONS)

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